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Hi.I own a 2 unit property (main house with a 2nd smaller cottage that is a legal rental unit).

Remember, you are occupying one of the units...it would be impossible to cashflow in that scenario.

And on top of that, i am being told that even though the tenant has been living in my unit since end of June, and all the paperwork was submitted SEVERAL times over the last 7 months (with a paper trail to prove it) that they will not pay any back rent.

There is an abundance of supply, high price tag, it's more of a corporate travel town than a vacation destination (meaning that 1-2 bedroom units are in most demand, which puts you squarely in competition with hotels). 

I just thought it'd be similar to having an in-law unit and renting it out.

Even the narrowest without garages might be 12 units per acre. mixed use is complex and you need a commercial agent. that's a small plot for mixed use. if you don't have a lot of experience I'd recommend talking to the city first about permitted uses within your zoning and what they may allow variances on for development, check your height restrictions first.

I recently own approximately 1.5 acres of commercial real estate zoned R-3 moderate density multi family in Green Bay WI.I talked to a developer who estimates site fully developed could fit approximately 3 buildings of 12 unit apartments.

They are fantastic.I recently did a 16 unit this way and we couldn't be happier with the results less than 60 days in. 

But again, you should not be contributing more per month than a tenant would for that same unit.